SUPPLEMENT TO THE PROSPECTUS DATED JULY 23, 1998
OF LINCOLN BENEFIT LIFE COMPANY
VARIABLE LIFE ACCOUNT
Lincoln Benefit Life Company ("Company") has contracted with Allstate Life
Financial Services, a wholly owned subsidiary of Allstate Life Insurance Company
and affiliate of the Company, to serve as distributor of the Consultant variable
universal life insurance policies, effective November 25, 1998. Prior to this
time Lincoln Benefit Financial Services, a wholly owned subsidiary of the
Company, served as the principal underwriter. In accordance with this change,
the following revision is made to the Prospectus.
On page 31, under the heading of DISTRIBUTION OF POLICIES, the language is
deleted in its entirety and the following is substituted in its place:
DISTRIBUTION OF POLICIES
The Policies described in this Prospectus are sold by registered representatives
of broker-dealers who are our licensed insurance agents, either individually or
through an incorporated insurance agency.
Allstate Life Financial Services ("ALFS") located at 3100 Sanders Road,
Northbrook, IL 60062-7154 serves as principal underwriter of the Policies. ALFS
is a wholly owned subsidiary of Allstate Life Financial Services. It is
registered as a broker-dealer under the Securities and Exchange Act of 1934, as
amended, and is a member of the National Association of Securities Dealers, Inc.
Registered representatives who sell the policy will be paid a maximum sales
commission of approximately 70% of all Premiums up to the first year Safety Net
premium plus 2.85% of any additional premiums in the first year. In addition,
certain bonuses and managerial compensation may be paid. We pay all such
commissions and incentives.
Sale of the Policies did not commence until the second half of 1998.
Consequently, no commissions were paid to any distributor or principal
underwriter of the Policies for any period prior to 1998.
On page 2, the following information is generally added:
Each of the Subaccounts and Fixed Account may not be available in all states.
You should check with your representative or call us for further information on
the availability of these accounts.
Please attach this page to your Prospectus and retain it for future reference.
If you have any questions regarding this information, please call us at
1-800-865-5237, or 1-877-525-5727.
Form # LBL-2497
